We have all heard how nobody wants to look at ads anymore but instead, they want information that keep them on their private lives, businesses and their relationships. How can data will help fuel your ability to provide and prospects with information that is usable?
This can work especially well if a site is fuelling other businesses. For example; sales, marketing, education and beyond – if analytics is set right, critical metrics can be looked that crosses customer base and see trends in the market.
In today’s world, especially business-to-business, expertise is the most sought after quality. Where an ad might generate a smirk and little upside, demonstrated expertise, in the form of data-driven market intelligence, can potentially close the gap from prospect to sale. Take a look at the education sector for example.
What courses are the most sought after? Which have risen most quickly? What courses do people sign up for after they sign up for the most popular course? Which have the highest rates of completion? What are the geographic dimensions associated with course application? You can weave these data points into a market analysis that your constituents will find valuable.
These are just some of the most basic examples. They key is to get into the mindset of elevating your data research to a level where you can take it out of your organization and create a narrative that will drive business. The process is subtle; selling directly is likely to bother people, and they’ll turn elsewhere. Instead, just pass along valuable information about a market vertical where you have access to data that others don’t. Put it in plain English, instead of sending out a chart or graph.
As you send this data out incrementally, month after month, you’ll eventually see yourself become more visible in the market. People remember where the data came from. And when they need services associated with the market you’re in, you’ll be more top-of-mind than before.
Selling Accumulated Data
Taking it to the next level is a challenge in itself, but is a reward in itself: in providing marketing expertise to a general market, it is wise to provide targeted analytics for your customer base. This will involve creating a network of subscribers, as well as an avenue for them to interact with the data. This is certainly more complex than sending out a few paragraphs, but because the data is more targeted and it cannot be had any other way, this can enable you to monetize data – in a sense of charging customers for access.